Explainer: Why are landlords fleeing the London market? April 24, 2023 We all know these are not great times for the housing market: rents are extortionately high, especially in the capital, mortgage rates are a constant headache, and many see their dream of buying their first property slip away as the cost-of-living crisis eats away at their savings. Against this gloomy backdrop, buy-to-let investors in London [...]
Prezzo shuts 46 branches including four in London as 810 jobs put at risk April 24, 2023 Prezzo will shut 46 loss making sites across the UK including three in London and place 810 workers at risk of redundancy, as soaring energy and a hike in food costs rattle the business. The Italian restaurant chain, which is owned by private equity firm Cain International said that the closures will impact sites where [...]
Why central bank moves are pushing more people back to crypto April 24, 2023 The people in charge of the banks appear to have forgotten that inflation is a lagging indicator, says Temple Melville.
Average house price rises to £366,000 as tenants look to escape rental crisis April 24, 2023 UK house prices jumped again in March, driven higher by soaring rents pushing tenants to seek out their first home, but further interest rate hikes by the Bank of England could send a chill through the market, new research out today shows. The average price of a property coming to market in Britain hit £366k [...]
Standard Chartered, Barclays, Natwest kick off UK bank earnings this week with interest income back in focus April 24, 2023 Profit looks set to increase at the UK’s largest lenders as they line up to report first quarter earnings over the coming two weeks. The FTSE banking giants have seen relative stability over the last few weeks following the extreme volatility in March, but this stability means investors will refocus their attention on other major [...]
Recession jitters drive FTSE chiefs out of the top job April 24, 2023 Chiefs of the UK’s top companies have been exiting their roles at a doubly quick pace over the last year, driven by boards trying to insulate their firms from the economy being whacked by rising prices and interest rate hikes with a change in leadership, a new study out today shows. Some 38 chief executives [...]
Would You Become A Salary Nomad For More Money? April 24, 2023 Coronavirus changed many things for many people, and the way that we work was perhaps the most impacted. And the digital nomad, an employment trend that had previously been slightly scornfully reserved for a type of gig economy worker, became a legitimate alternative to the traditional 9-5. While the term has been in use since [...]
UK recession wobble sends FTSE profit warnings back to Covid-19 levels April 24, 2023 The UK’s flirtation with a recession over the last year or so has prompted a wave of the country’s top companies to warn shareholders to expect profits to miss forecasts, a new report out today shows. Profit warnings among UK-listed firms climbed to 75 in the first three months of this year, the highest level [...]
Diplomacy with the EU, the US and beyond will help us bolster our financial services April 24, 2023 Diplomatic relations with the EU and US will only help Britain’s standing post-Brexit, writes Nicholas Lyons
Week Ahead: Aldi and Lidl tightening the screw on Sainsbury’s as retailers fight to retain price-wary customers April 23, 2023 The supermarket giant is set to report a fall in annual pre-tax profits this week, posting up to £690 million, down from £730 million last year. According to the latest Kantar survey, Sainsbury’s reported a strong 12-week sales growth of 12 per cent at the end of March, but fell short of rivals Aldi and [...]